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Abraxas Planning 2015 Budget Boost; Eagle Ford Focus
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Abraxas Petroleum Corporation reported a 2014 guidance update and announces 2015 guidance and capital budget.
4Q and Full Year 2014 Guidance UpdateAbraxas is providing the following guidance for the Fourth Quarter and Full Year 2014:
2015 Guidance and Capital BudgetAbraxas recently received board approval for a $200 million capital budget for 2015 (broken down in further detail below). Estimated production volumes associated with this budget are forecasted to be 9,050 boepd at the midpoint of guidance, representing 50% growth over 2014 estimated volumes. At the midpoint of guidance, lease operating expenses are projected to decline to approximately $11.00/boe from $12.50/boe in 2015 from 2014, respectively. Abraxas plans to fully fund the capital program with cash flow from operations…
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